Hungary Industry

Hungary: Industrial production slows in October

December 5, 2014

According to preliminary data released by the statistical institute (KSH) on 5 December, industrial output in October rose a working-day adjusted 1.7% over the same month last year, marking a deceleration compared to the strong 5.2% increase observed in September and marking the worst reading since August 2013. The reading came in below market expectations of a 5.0% increase but marked the 17th consecutive expansion.

On a monthly basis, industrial production contracted a seasonally- and working-day adjusted 2.6% in October, contrasting September’s 2.6% expansion. Meanwhile, annual average growth in industrial production inched down from 7.5% in September to 7.2% in October, the worst result in three months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.6% in 2015, which is up 0.2 percentage points from last month’s projection. For 2016, the panel expects industrial output to expand 5.6%.

According to revised data released by the Statistical Institute (KSH) on 13 February, industrial output rose a working-day adjusted 4.5% year-on-year in December, accelerating from the 3.6% expansion observed in November.